I think we should handle it like this:
Everyone lists what they want.
Keeping an eye on the value, as long as noone else wants the item in question, just give it to them.
As long as the items are useful for the party more than for the individual, they shouldn't be accounted and just be given to whoever can use them.
For the items, multiple characters are interested in, give them to the ones that a) need them more and b) have been given less so far. Using some common sense to mix and match these conditions.
Everything left over is put in the party hoard or traded away (if possible) to get some useful stuff mostly for those who havn't gotten so much yet, or for the whole party (like healing or supplies to build the stronghold).
In the end, treasure should be split roughly fair over time, but that doesn't have to be the case at every moment, since this is hardly doable, anyways. Next time the ones who have been given less so far reveive more to compensate.
How does this sound?